How much might a home buyer expect to pay in closing costs on a $220,000 house with
Question:
How much might a home buyer expect to pay in closing costs on a $220,000 house with a 10% down payment? How much would the home buyer have to pay at the time of closing, taking into account closing costs, down payment, and a loan fee of 3 points?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (1 review)
Closing costs on a house purchase typically range from 3 to 6 of the purchase price For a 220000 hou...View the full answer
Answered By
Paulo Olinarez
I am currently working as a Senior Tax Associate doing tax due diligence audit for prospective business mergers and acquisitions. I also had two-year audit experience handling clients in the automotive, holdings, agriculture, and real-estate industry in the Philippines' largest and prestigious professional firm. I am also helping students as a part-time tutor in another tutor site, specifically in accounting, financial accounting, management accounting, cost accounting, and taxation subject with excellent helpful ratings from my students. I graduated as Magna Cum Laude and landed as Top 15 in the Philippines' Licensure Examination for Certified Public Accountants.
0.00
0 Reviews
10+ Question Solved
Related Book For
Personal Financial Planning
ISBN: 9781439044476
12th Edition
Authors: Lawrence J. Gitman, Michael D. Joehnk, Randy Billingsley
Question Posted:
Students also viewed these Business questions
-
How much might a home buyer expect to pay in closing costs on a $220,000 house with a 10 percent down payment? How much would the home buyer have to pay at the time of closing, taking into account...
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
When a manager greets department visitors or attends ceremonies, he or she is playing the role of: Figurehead Conceptual Empowerment Productivity
-
1. As a proton moves through space, it creates (a) An electric field only. (b) A magnetic field only. (c) Both an electric field and magnetic field. (d) Nothing; the electric field and magnetic...
-
During the planning of the audit of Strong Company, the partner in charge of the audit was discussing sampling plans with a manager and a senior. The discussion centered on the potential use of...
-
Decide whether to prepare a proposal in response to a customers RFP
-
The amounts of the assets and liabilities of Gilmore Travel Service as of April 30, 2012, the end of the current year, and its revenue and expenses for the year are listed below. The retained...
-
SandhillIndustries manufactures light fixtures for home, retail, and industrial customers. The retail line has been showing losses for several years, and management is considering dropping the line....
-
Use Worksheet 5.2. Rosa Ramirez is currently renting an apartment for $725 per month and paying $275 annually for renters insurance. She just found a small townhouse she can buy for $185,000. She has...
-
Use Worksheet 5.1. Art Winkler is trying to decide whether to lease or purchase a new car costing $18,000. If he leases, hell have to pay a $600 security deposit and monthly payments of $425 over the...
-
If management needed to determine which book category generated the most sales in April 2009, which tables and fields would they consult to derive this information? Figure 1-5: ORDERS Order#...
-
Consider: x3 + c (x 1)(x 3)(x + 1) (x + 3x + 9) (x + 2x + 5) How many partial fractions are there in the partial fraction decomposition of this function? How many unknowns (A, B, ...) must be...
-
Hand trace the following program. 1 y 0 2 for x in range (5): y = y + x 4 print ("x",x, "and y =", y) Note: You can shorten the prompts in your hand trace if you want to.
-
Determine the location using physics calculations to solve the problem. Show step by step details for how you solved the problem. I don't need an explanation explaining how to solve the problem. T By...
-
Give a brief explanation about the organization/company i.e., the products or services, number of employees, etc. Do a SWOT chart to help organize your ideas. Refer to resources in the reading for an...
-
How are organization "formal" and "informal" structures impacted in organizational change? Provide some examples. Compare and contrast Lewin's Change Model with Kotter's Change model. (Show how they...
-
The overall grade in a course is determined from the grades of 6 quizzes, 3 midterms, and a final exam, using the following scheme: Quizzes: Quizzes are graded on a scale from 0 to 10. The grade of...
-
1. Advertising for eyeglasses _________ (increases/decreases) the price of eyeglasses because advertising promotes _________. 2. An advertisement that succeeds in getting consumers to try the product...
-
Use future or present value techniques to solve the following problems. a. Starting with $15,000, how much will you have in 10 years if you can earn 6 percent on your money? If you can earn only 4...
-
Over the past several years, Gwen Fong has been able to save regularly. As a result, she has $54,188 in savings and investments today. She wants to establish her own business in five years and feels...
-
Greg Fredericks wishes to have $800,000 in a retirement fund 20 years from now. He can create the retirement fund by making a single lump-sum deposit today. a. If he can earn 6 percent on his...
-
You are thinking of buying a stock priced at $99 per share. Assume that the risk-free rate is about 4.5% and the market risk premium is 6.4%. If you think the stock will rise to $125 per share by the...
-
The transactions in this practice set were completed by Hydro Paddle Boards, Inc. during January, the first month of the companys fiscal year. Hydro Paddle Boards, Inc. is a manufacturing corporation...
-
Al preparar el estado de resultados pro forma, cules de las siguientes partidas se deducen de las utilidades brutas para llegar a las ganancias despus de impuestos? Pregunta de seleccin mltiple....
Study smarter with the SolutionInn App